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$70-Mil Commercial-Residential Development Proposed for Factoria Square

BELLEVUE, WA-Owners of the shopping mall are hoping to generate more revenue by turning the mall's existing parking lot into a mixed-use plaza with 850 apartments, a mid-rise office building and 100,000-sf of retail.

By Ingrid Ricks | Updated on October 05, 2000

BELLEVUE, WA-Owners of the Factoria Square shopping center here are hoping to drive more revenue by converting the mall’s existing parking lot into a pedestrian-friendly residential, office and retail plaza.

Plans for the proposed development, submitted to the city for review, call for 850 apartments, 1,700 new parking stalls, a six- to-eight story office building and 100,000 sf of retail space for small businesses. The plans also outline the possibility of a community center.

Craig Chang, asset manager for Factoria Square Limited Partnership, which has owned the property since 1990, says the proposed mixed-use development stems from the fact that Bellevue needs more rental housing and that suburban shopping malls are becoming a thing of the past.

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